Tanzania Must Address Tax Exemptions For Growth, IMF Says

Law360, New York (November 6, 2013, 5:58 PM EST) -- Tax revenues in Tanzania will continue to fall short of projections unless the African nation reforms its tax code and invigorates its power sector, the International Monetary Fund said Wednesday.

A two-week IMF mission that ended Tuesday included meetings with top government officials that centered around medium-term economic priorities like balancing infrastructure investments with social spending. One way to accomplish that, according to mission leader Paolo Mauro, an assistant director with the IMF, is through tax reform.